Rosneft and Exxon continue the settlement of a tax dispute

Rosneft and Exxon continue the settlement of a tax dispute


We work with Exxon in all directions, including on tax. With one hand hold the pre-trial procedures, from the other discussions in the government, said the head of “Rosneft” Igor Sechin.

EKATERINBURG, 25 Nov. Rosneft and ExxonMobil continue to work on resolving a tax dispute in the pretrial order, discuss the issue with the Russian government, told journalists the head of “Rosneft” Igor Sechin.

“We are working with Exxon in all directions, and tax work, too. Pre-trial procedures on the one hand, on the other hand is the debate in the government. The final decision will be made someday. The position we agreed with Exxon,” said he.

In the spring of the world’s media wrote that ExxonMobil may submit to the Stockholm arbitration the claim with the requirement to reduce the tax for the project “Sakhalin-1” from 35% to 20% and to recover overpayments over the past seven years. The amount of the claim may reach $ 500 million.

The head of Ministry of natural resources Sergey Donskoy said that such issues can be resolved out of court. Rosneft then argued for extrajudicial settlement of a dispute.

The project “Sakhalin-1” is implemented on the terms of the agreement on production sharing and includes three fields (Chaivo, Odoptu and Arkutun-Dagi) in the North-Eastern shelf of Sakhalin island. Exxon Neftegas Ltd is the operator of the project and owns in it 30%, Rosneft — 20%, Japanese Sodeco — 30%, Indian ONGC — 20%.